Receipt / Payment Regulation

Ghani Osman Securities strictly adheres to the following regulations pertaining to Receipts and Payments.

PSX RULE BOOK - CHAPTER 4: Trading Rights Entitlement (TRE) Certificate

4.23. Receipt / Payment of Amount From / To Customers

• 4.23.1. 4.23.1. The Securities Brokers or PCM as the case may be shall receive and make payments of Rs. 25,000/- and above from/to customers drawn on customer’s own bank account, in the name of customers only in the manner as provided in the Terms and Conditions for Trading Account in CRF and Sahulat Form.
• 4.23.2. The Trading Only Securities Broker shall not receive or make payment to its customers whose custody of securities is maintained with PCM or Trading and Clearing Securities Brokers and shall ensure that such customers receive or make payment only from/to PCM or Trading and Clearing Securities Brokers, as the case may be, either directly or through the Trading Only Securities Broker, in the same manner as specified in Clause 4.23.1..

CRF / Sahulat Form Annexure-A: Terms and Conditions for Trading Account

4.23. Receipt / Payment of Amount From / To Customers

• The Securities Broker shall accept from the Customer payments through "A/c Payee Only" crossed cheque, bank drafts, pay orders or other banking channels drawn on Customer’s own bank account in case of amounts in excess of Rs. 25,000/- . Electronic transfer of funds to the Securities Broker through banks would be regarded as good as cheque. The Securities Broker shall provide the receipt to the Customer(s) in the name of the Customers duly signed by its authorized employee and the Customer(s) shall be responsible to obtain the receipt thereof. In case of cash dealings, proper receipt will be taken and given to the Customer(s), specifically mentioning if payment is for margin or the purchase of securities. The Securities Broker shall immediately deposit in its bank account all cash received in whole i.e. no payments shall be made from the cash received from clients. However, in exceptional circumstances, where it becomes necessary for Securities Broker to accept cash in excess of Rs.25,000/-, the Securities Broker shall immediately report within one trading day such instances with rationale thereof to the PSX in accordance with the mechanism prescribed by PSX.
• The Securities Brokers shall make all payments to the Customers through crossed cheques / bank drafts / pay orders or any other banking channels showing payment of amount from their business bank account. Copies of these payment instruments including cheques, pay orders, demand drafts and online instructions shall be kept in record for a minimum period prescribed under the Securities Brokers (Licensing and Operations) Regulations, 2016..

PSX RULE BOOK - CHAPTER 22: Brokers’ Office Regulations

22.6.3. DISPLAY OF INFORMATION

• (f) All payments from the clients to the Securities Broker or PCM, as the case may be, shall be made in the name of such Securities Broker or PCM, through "A/c Payee Only" crossed cheque, bank drafts, pay orders or other banking channels only.
• Any change in email address, mobile number, office phone number, mailing address, registered/ permanent addresses or other related information should be intimated immediately to the broker.

22.6.4 A BOARD AT A CONSPICUOUS PLACE AT THE RECEPTION/FRONT OFFICE WHICH SHOULD CONTAIN

• A branch cannot deal in cash, except as provided in the CRF and Sahulat Form (clause 8 and 9)..
• That nobody is authorized to take deposit money on fixed profits which is illegal.